Public Employees Retirement Association of Colorado Purchases 537 Shares of United Rentals, Inc. (URI)
Public Employees Retirement Association of Colorado increased its position in United Rentals, Inc. (NYSE:URI) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,062 shares of the construction company’s stock after purchasing an additional 537 shares during the period. Public Employees Retirement Association of Colorado’s holdings in United Rentals were worth $2,933,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of URI. Cypress Capital Management LLC WY grew its stake in shares of United Rentals by 73.0% in the fourth quarter. Cypress Capital Management LLC WY now owns 770 shares of the construction company’s stock worth $132,000 after acquiring an additional 325 shares during the last quarter. Fieldpoint Private Securities LLC purchased a new stake in shares of United Rentals in the third quarter worth $119,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of United Rentals by 200.0% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,200 shares of the construction company’s stock worth $206,000 after acquiring an additional 800 shares during the last quarter. Welch & Forbes LLC purchased a new stake in shares of United Rentals in the fourth quarter worth $226,000. Finally, First Manhattan Co. grew its stake in shares of United Rentals by 42.9% in the third quarter. First Manhattan Co. now owns 1,415 shares of the construction company’s stock worth $196,000 after acquiring an additional 425 shares during the last quarter. 88.45% of the stock is currently owned by institutional investors.
Shares of United Rentals, Inc. (URI) opened at $166.06 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.02 and a debt-to-equity ratio of 2.81. United Rentals, Inc. has a 12-month low of $100.62 and a 12-month high of $189.00. The company has a market capitalization of $14,040.00, a price-to-earnings ratio of 10.58, a P/E/G ratio of 0.58 and a beta of 2.60.
United Rentals announced that its board has approved a stock repurchase plan on Wednesday, October 18th that allows the company to buyback $373.00 million in outstanding shares. This buyback authorization allows the construction company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Michael Kneeland sold 30,000 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $182.75, for a total transaction of $5,482,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jenne K. Britell sold 3,250 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $153.81, for a total value of $499,882.50. The disclosure for this sale can be found here. Insiders have sold 79,212 shares of company stock worth $13,856,844 over the last ninety days. 1.20% of the stock is currently owned by insiders.
A number of equities research analysts have recently commented on URI shares. Stifel Nicolaus increased their target price on United Rentals from $171.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Citigroup increased their target price on United Rentals from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. Bank of America set a $165.00 target price on United Rentals and gave the stock a “buy” rating in a research note on Thursday, October 19th. Royal Bank of Canada reissued a “buy” rating and issued a $194.00 target price on shares of United Rentals in a research note on Thursday, January 11th. Finally, Buckingham Research reissued a “neutral” rating and issued a $175.00 target price (up from $154.00) on shares of United Rentals in a research note on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and three have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $179.12.
United Rentals Profile
United Rentals, Inc is a holding company. The Company is an equipment rental company, which operates throughout the United States and Canada. It operates through two segments: general rentals, and trench, power and pump. The general rentals segment includes the rental of construction, aerial, industrial and homeowner equipment and related services and activities.
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